NOT LISTED FOR SALE

503 E Park St Olathe, KS 66061

Estimated Value: $481,000 - $512,993

5 Beds
4 Baths
3,074 Sq Ft
$162/Sq Ft Est. Value

Last Sold June 30, 2022

Current estimated payment $3,079/month

24 Days on Market

Highlights

  • Deck
  • No HOA
  • Porch
  • Oregon Trail Middle School Rated A-
  • 10 Car Detached Garage
  • Window Unit Cooling System

About This Home

As of June 2022

*FULLY OCCUPIED 4 PLEX RESIDENCE*GREAT CURB APPEAL*LOCATED IN GREAT, QUIET AREA JUST A FEW BLOCKS FROM DOWNTOWN OLATHE*DIAGONALLY ACROSS FROM DEAF SCHOOL*HOME WAS CONVERTED YRS AGO INTO MULTI FAMILY UNITS*1 BDRM APT*1 STUDIO APT*2 BDRM APT*2-3 BDRM APT*DETACHED GARAGE FOR STORAGE*YARD IS PRIVACY FENCED ON 2 SIDES*LARGE BACKYARD*GARDEN SPOT*NICE PATIO OFF DINING RM OF UNIT #4*FRONT COMMON AREA ENTRY FOR UNITS 1 & 2 + CUTE FRONT PORCH*SEPERATE ENTRY FOR UNITS 3 & 4*SHARED DRIVEWAY W/LOTS OF PARKING NEXT TO RESIDENCE*UNIT #4 HAS WASHER/DRYER-NO OTHER UNITS HAVE WASHER/DRYER HOOKUPS*ALL UNITS HAVE PROVIDED REFRIGERATORS & STOVE/OVENS*ALL HAVE SEPARATE FURNACE, AC, HOT WATER HTRS & EACH PAY THEIR OWN INDIVIDUAL UTILITIES + EACH PAY FOR THEIR OWN TRASH P/U*UNIT 1 & UNIT 4 SHARE WATER/$50 PD FROM UNIT 1 TO UNIT 4 MONTHLY*METAL ROOF*VINYL SIDING*COMPLETE NEW SIDEWALK*CURRENT OWNER IS MANAGER & OCCUPIES UNIT #4 & IS WANTING TO STAY/RENT BACK FOR 1-1.5 YRS AFTER CLOSING IF POSSIBLE*STUDIO APT HAS WINDOW AC & WALL FURNACE/ALL OTHER UNITS HAVE CENTRAL HVAC*ALL UNITS ARE NICE INSIDE, HAVE CEILING FANS, CARPET, WOOD FLOORING, VINYL OR TILE*TONS OF NATURAL LIGHT IN EACH UNIT*THIS IS A VERY CLEAN, WELL MAINTAINED, OWNER/OCCUPIED PROPERTY THAT HAS BEEN WELL TAKEN CARE OF*OWNER IS DOING A 1031 TAX EXCHANGE FROM THIS PROPERTY TO ANOTHER PROPERTY OUT OF STATE & SELLER CANNOT CLOSE UNTIL END OF MAY 2022, OR LATER*TENANT OCCUPIED & SUBJECT TO TENANTS CURRENT LEASES*PLEASE NOTE: WE KNOW RENTS ARE LOW & SELLER RECENTLY RAISED THEM FOR THE 1ST TIME IN QUITE AWHILE*UNIT #1 RENT IS $700/MONTH. UNIT #2 RENT IS $700/MONTH. UNIT #3 RENT IS $550/MONTH*

Last Agent to Sell the Property

Corrina Hauer

Realty Executives License #BR00047455 Listed on: 02/10/2022

Realty Executives

Last Buyer's Agent

Kathryn Thomas

ReeceNichols - Leawood License #SP00219493

ReeceNichols - Leawood

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,000

Year Built

  • Built in 1915

Lot Details

  • 0.37 Acre Lot
  • Lot Dimensions are 60x271
  • Private Entrance
  • Paved or Partially Paved Lot

Home Design

  • Quadruplex
  • Frame Construction
  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • 3,074 Sq Ft Home
  • 2-Story Property
  • Window Treatments
  • Basement

Kitchen

  • Gas Oven or Range
  • Recirculated Exhaust Fan
  • Microwave

Laundry

  • Dryer
  • Washer

Parking

  • 10 Car Detached Garage
  • Off-Site Parking

Outdoor Features

  • Deck
  • Porch

Schools

  • Central Elementary School
  • Olathe North High School

Utilities

  • Window Unit Cooling System
  • Central Heating and Cooling System
  • Wall Furnace
  • Separate Meters

Community Details

  • No Home Owners Association
  • 4 Units
  • Hayes Addition Subdivision
  • On-Site Maintenance

Listing and Financial Details

  • Assessor Parcel Number DP31100002-0005E

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,000

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadruplex
  • Age Description: 101 Years/More
  • Legal Description: *HAYES’ ADDITION TO OLATHE (NORTH OF LOULA) 60’ X 271’ BG128’ E NW CR LT 5 BLK 2. Exact legal description to follow, as per title commitment policy, prior to closing.*
  • Restrictions: Lease, Other, Parking
  • Package: Optional
  • Year Built: 1915
  • Senior Community: No
  • Exclude From Reports: No
  • Internet Address Display: Yes
  • Internet Automated Valuation Dis: No
  • Internet Consumer Comment: No
  • Internet Entire Listing Display: Yes
  • List Agent Full Name: Corrina Hauer
  • Listing Service: Limited Service
  • List Office Mls Id: RLEX01
  • List Office Name: Realty Executives
  • List Office Phone: 913-642-4888
  • Maintenance Description: Building Exterior, HVAC, Lawn, Roof Repair, Roof Replace, Snow Removal
  • Maintenance Provided: Yes
  • Mls Status: Sold
  • Phone Other: 913-963-5224
  • Phone Other Type: Cell
  • Special Documents Required: No
  • Tax Total Amount: 3000
  • Unit Type: 1 Bedroom, 2 Bedroom, 3 Bedroom
  • Value Range Pricing: No
  • Special Features: None

Interior Features

  • Interior Amenities: Common Entry, Private Entry, Prt Window Cover
  • Appliances: Dryer, Hood/Fan, Microwave, Refrigerator, Rng/Oven- Electric, Rng/Oven- Gas, Washer
  • Basement: Yes
  • Fireplace: No
  • Stories: 2

Exterior Features

  • Roof: Metal
  • Construction Materials: Frame, Vinyl Siding
  • Patio And Porch Features: Deck, Porch
  • Road Surface Type: Paved

Garage/Parking

  • Garage: Yes
  • Parking Features: Detached, Off-Site, Other
  • Total Parking Spaces: 10

Utilities

  • Cooling: Central Electric, Window Unit(s)
  • Heating: Central Electric, Central Gas, Wall Furnace
  • Sewer: City/Public
  • Utilities: Ind Heat And Air, Ind Water Heaters, Separate Meters
  • Cooling: Yes
  • Water Source: City/Public

Condo/Co-op/Association

  • Type Of Management: Owner Manager

Association/Amenities

  • Association: No

Schools

  • Middle/Junior School: Oregon Trail

Lot Info

  • In Floodplain: No
  • Zoning: Multi
  • Building Area Total: 3074.00
  • Lot Size Area Units: Acres
  • Lot Dimensions: 60x271
  • Lot Size Sq Ft: 16117.20
  • Parcel Number: DP31100002-0005E
  • Subdivision Name: Hayes Addition

Rental Info

  • Existing Lease Terms: One Year Lease

Building Info

  • Number of Units Total: 4

Multi Family

  • Current Occupancy Rate: Over 95%
  • Operating Expenses Include: Legal, Maintenance, Property Insurance, Real Estate Tax, Supplies, Water

Tax Info

  • Tax Abatement: No
  • Tax Annual Amount: 3000.00

MLS Schools

  • Elementary School: Central
  • School District: Olathe
  • High School: Olathe North

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 10, 2022
Closed on
Jun 29, 2022
Sold by
Westhoff Donna H
Bought by
Alvarez Londy and Alvarez Juan
Seller's Agent
Corrina Hauer
Realty Executives
Buyer's Agent
Kathryn Thomas
ReeceNichols - Leawood
List Price
$425,000
Current Estimated Value
$496,997

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.84%
Original Mortgage
$326,250
Outstanding Balance
$311,833
Interest Rate
5.81%
Estimated Equity
$185,164
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Alvarez Londy -- Security 1St Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Alvarez Londy $326,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/30/2022 06/30/22 Sold -- -- --
02/10/2022 02/10/22 For Sale $425,000 -- $138 / Sq Ft
Source: Heartland MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $5,760 $50,946 $5,095 $45,851
2023 $5,553 $48,278 $5,095 $43,183
2022 $3,240 $27,692 $4,629 $23,063
2021 $3,051 $24,771 $4,204 $20,567
2020 $2,902 $23,368 $3,820 $19,548
2019 $2,896 $23,161 $3,322 $19,839
2017 $2,498 $19,677 $3,019 $16,658
2016 $2,425 $19,585 $3,019 $16,566
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Heartland MLS

MLS Number: 2364794

Heartland MLS

APN: DP31100002-0005E